The Ottawa Real Estate Board reported 1,203 unit sales in the month of August, a decrease of 1.1% over August 2013. This is slightly above the five year average for the number of sales in the month of August which is 1,199 units . The number of new listings taken in the month increased by 12% over last year. This month the average sale price increased. Now at $360,214 it was up by 3.4% from last August. The average sale price to average list price ratio is at 97%. The listing inventory continues to grow it was up 2% over last August’s level. New listings increased as well, up 12% over that of August 2013. The sales to listing inventory ratio was at 15% which indicates a balanced market but entering buyer’s market range. The average days on market was up from the previous month to 51 days. The absorption rate is at a very normal and stable rate of 6 months.